Nigerian Insurance Stocks: The Big Reform Rush

Insurance stocks on the NGX just went wild last week — and trust me, you’ll want to know why.

Here’s the play-by-play

The Surge

1.8 billion shares traded → worth ₦5.4bn.

Compare that to the week before: 763.5m shares worth ₦2.3bn.

Translation? Investors are piling in, hard.

Winners (Riding the Wave)

Sovereign Trust: Absolute beast, moving 1.45bn shares valued at ₦4.3bn.

AIICO & Mutual Benefits: Tagging along for the ride, pulling in fresh attention.

Market confidence: The new Insurance Reform Act (NIIRA) is giving the sector a glow-up.

Losers (Feeling the Heat)

Cautious holders: Sitting on the sidelines = missing out on the rally.

Short-term profit takers: As sell pressure kicks in, they risk cas…
NGX Weekly Recap: ₦833bn Gone in 4 Days

Nigeria’s stock market had a short week, long losses. Thanks to the public holiday, trading ran just four days — but that was enough to wipe ₦833bn off the board.

Here’s how it played out

The Scoreboard

ASI (All-Share Index): Down 0.94% → 138,980.01 points.

Market cap: Slid to ₦87.94tn.

Turnover: 3.117bn shares worth ₦90.3bn.

Winners (Not Many…)

Sovereign Trust Insurance: Trading champ of the week.

Nigerian Breweries & Fidelity Bank: Still pulling volume despite the dip.

Growth & Commodity Indices: The only indices that didn’t join the slide.

Losers (The Crowd)

64 equities lost value (vs 57 last week).

Only 19 equities gained (vs 32 the week before).

Translation? More red than green on the ticker.

What’s Driving the Mood?

Profit-taking: Investors cashing in their wins.

Cautious sentiment: Waiting out the uncertainty.

Macroeconomic worries: Inflation + FX = jittery trades.

Silver Lining

Even after this week’s losses, the market is still sitting on a 35.03% YTD gain. In other words, long-term players are still smiling.

Foxxymobile Investment Services: We break down the ups, downs, gains, and drains so you can trade smarter, not louder.

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Nigerian Insurance Stocks: The Big Reform Rush

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